Why is Supplier Knowledge Important in Energy Purchasing?

May 30, 2018 | Alexandra Degala

Businesses are centered on making more money out of money, that’s why it comes as a surprise that a third of business owners do not know who supply their gas and electricity.  Energy is vital in business operations, thus the cost for energy are often overlooked. However, the price for energy is continuously on the rise and the lack of supplier knowledge is costing companies more than they think.

Businesses can earn more in energy savings if they do more research and allot a portion of their man power to observing their energy expenditures. What are some of the signs that your company lacks supplier knowledge?

  1. Sticking to the “Big Six” - Businesses often purchase energy from the top energy companies because they are not aware that they can get more savings if they approach emerging companies like WeCompete Energy.

  2. Wrong Timing - Business owners value their time in the same way they value their earnings.  In purchasing energy, less time is given in doing research about getting the best energy deals. Thus, business owners are often unaware of their options.

  3. Unaware that the market is competent. 40 percent of businesses are unaware that energy is a very competitive market. If more businesses take advantage of this they can purchase energy at a much lower price. This also means that businesses often stick to one energy supplier, even if the rates are expensive.

 

Great savings can be made in energy costs if you know where to snoop around. It can take time and resources but that is a small price to pay compared to what you will be saving. The best time to purchase energy is when demand is low because prices are cheapest during this time. You can negotiate your pricing to be fixed or flexible. With enough research you can identify which one is ideal for your business.

 


WeCompete Energy can assess your business energy needs with just the use of your energy bill. We have partnered with multiple energy suppliers and all of them we’ll compete to provide you with your utility needs. Moving forward, you can be assured that you can get the best deals available. You want to know more about how we can help you? Contact us at +1 (844) 937-7727 or contact@wecompeteenergy.com.